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Jul 26, 2011
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i mean, that's too big a number for everybody to really consider. so i broke it down to every family in the united states. every family's part of this $63 trillion of unfunded liabilities for medicare as it exists today is over $500,000. per family. $500,000 per family. of unfunded liabilities for medicare just in the next several decades. now, i don't know about most families but my family can't afford to pay $500,000 and neither can the government. mr. gingrey: if the gentleman will yield back to me for just a second and i've got a post that are points out just exactly what the gentleman from georgia, dr. broun, is saying. the c.b.o., if you look, colleagues, at the bottom of this poster, c.b.o. estimates individual and corporate income tax rates would have to rise by 90% through the year 2050 to finance medicare and medcare cade. and if medicare is not fixed, millions of workers today will lose the money that they have invested and indeed they have invested with that payroll tax over their many years of employment and i yield back. mr. broun: tha
i mean, that's too big a number for everybody to really consider. so i broke it down to every family in the united states. every family's part of this $63 trillion of unfunded liabilities for medicare as it exists today is over $500,000. per family. $500,000 per family. of unfunded liabilities for medicare just in the next several decades. now, i don't know about most families but my family can't afford to pay $500,000 and neither can the government. mr. gingrey: if the gentleman will yield...
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Jul 26, 2011
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i think that is a big step in the right direction, and we put real caps in place. i do not have the numbers at my fingertips. i just know it will be less than last year. >> some members of congress were saying that the bill would allow for more spending than the ryan budget. >> i would much rather have the house republican budget. but remember, this was the product of a bipartisan negotiation. that is why it is not exactly everything what we wanted it to be. >> are you confident you can pass given the conservative push back? [inaudible] >> listen, this was negotiated in a bipartisan manner between both houses of congress. i think we will have some work to do to get it passed, but we will do it. >> the markets are down this morning, credit rating agencies still threatening to downgrade our credit rating. is this plan enough for the markets? >> i do believe it is enough. when the joint select committee gets together, they are required to find cuts of at least $1.80 trillion. they could do more, but it is time for congress to do their work. the per step in the process
i think that is a big step in the right direction, and we put real caps in place. i do not have the numbers at my fingertips. i just know it will be less than last year. >> some members of congress were saying that the bill would allow for more spending than the ryan budget. >> i would much rather have the house republican budget. but remember, this was the product of a bipartisan negotiation. that is why it is not exactly everything what we wanted it to be. >> are you...
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Jul 26, 2011
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and it's a big return, ladies and gentlemen. this pipeline is going to cost $13 billion, $13 billion. who is paying for it? the colt brothers? no. the american people are on the hook for the $13 billion to build this pipeline for the colt brothers and for their cohorts -- exxon, mobile, shell, b.p., and all of the rest of the big boys, whose tax credits and tax breaks, they are protecting without hesitation. so they are giving it bothways, ladies and gentlemen. they are getting it on the front end and they are getting it on the back end in terms of not having to pay any taxes. i think it's a -- i think we need to look at -- during this debt ceiling debate what our priorities are as a nation and what our values are. are we simply there to do the bidding of big business? and the oil companies? or are we here to do the business for the american people? the chair: the gentleman's time has expired. mr. johnson: i yield back. i rest my case. the chair: the gentleman from kentucky. mr. whitfield: madam chair, it's my understanding i ha
and it's a big return, ladies and gentlemen. this pipeline is going to cost $13 billion, $13 billion. who is paying for it? the colt brothers? no. the american people are on the hook for the $13 billion to build this pipeline for the colt brothers and for their cohorts -- exxon, mobile, shell, b.p., and all of the rest of the big boys, whose tax credits and tax breaks, they are protecting without hesitation. so they are giving it bothways, ladies and gentlemen. they are getting it on the front...
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Jul 26, 2011
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that is that congress establishes budget cuts big enough to satisfy the credit agencies. stocks would make our run at new bull market highs. it cannot pass a sizable plan, the downside would be limited to 10%. scenario 3, the worst outcome -- let's go to maryland, angela, an independent. caller: i'm a first-time caller. i am a social conservative and a fiscal conservative. i used to both the republican party from my local elections to the presidential elections. the worst thing that happened to the republican party is eric cantor. he reminds me of a child is totally intransigent. he is rude to the president and shows he is all talk and he cannot stand the heat in the kitchen. the tea party has taken over the republican party. why should grover norquist ask republican members to sign a pledge to him? he has not got our country. the republicans no longer represent me. they are behaving like a step further wives. -- stepford wives. this is not the reagan republican party that i used in them. this is really pathetic. people need to stop talking about social security as an ent
that is that congress establishes budget cuts big enough to satisfy the credit agencies. stocks would make our run at new bull market highs. it cannot pass a sizable plan, the downside would be limited to 10%. scenario 3, the worst outcome -- let's go to maryland, angela, an independent. caller: i'm a first-time caller. i am a social conservative and a fiscal conservative. i used to both the republican party from my local elections to the presidential elections. the worst thing that happened to...
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Jul 26, 2011
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it was a big challenge. it took patience from us to manage to ask the experts in the constitution and the economy, and the big challenge is that the demands of the people has only political backgrounds, but their decisions would have the economic background and security background. so our decisions appeared has slowed to the people. but it was not slow. if you see the achievements and six months, you can see supra issue intrudes -- the biggest achievements. now people are recognizing that there is excess success we have the following procedure. polish that there is excess -- that there is success we have to follow and proceed. they have many demands. >> to you try to meet with them? >> have met with many factions of them. i am not saying that they are not good, but every group or person has his agenda, his demands, and it is absolutely -- no government in the world can respond to all of these collective demands. we have enough patience to deal with them and we are committed until this moment that the fire on
it was a big challenge. it took patience from us to manage to ask the experts in the constitution and the economy, and the big challenge is that the demands of the people has only political backgrounds, but their decisions would have the economic background and security background. so our decisions appeared has slowed to the people. but it was not slow. if you see the achievements and six months, you can see supra issue intrudes -- the biggest achievements. now people are recognizing that there...
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Jul 26, 2011
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now utilizing the established senate procedure, the regular order but have attempted to solve this big problem in secret, behind closed doors with just a few people. i believe that is contrary to the historical understanding of the role of congress and i'm not happy about it, i oppose it and i object to it and i expect an appropriate amount of time to consider whatever plan comes >> president obama called for a feeling congress that would raise the national debt ceiling. the president supports the plan by senate majority leader harry reid which includes $2.70 trillion in savings, no tax increases, and no cuts to social security or medicare. the president spoke from the east room of >> the government had a surplus but the money was spent on the two wars and expensive prescription drug program. as a result, the deficit was on track to top $1 trillion, the year i took office. to make matters worse, the recession meant that there was less money coming in and it required us to spend even more. on text cuts for middle-class families to spur the economy and unemployment insurance, and aid to
now utilizing the established senate procedure, the regular order but have attempted to solve this big problem in secret, behind closed doors with just a few people. i believe that is contrary to the historical understanding of the role of congress and i'm not happy about it, i oppose it and i object to it and i expect an appropriate amount of time to consider whatever plan comes >> president obama called for a feeling congress that would raise the national debt ceiling. the president...
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Jul 26, 2011
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i am paying taxes big time on my life. the thing is, i am so upset with the ignorance, with the calls that come in. it is devastating to say the rich are helping the poor to get jobs is absolutely ludicrous. i am so upset because there is a goal to tear down the little guy. of course the goal is to destroy obama, which is unspeakable. the middle class and the poor are suffering. all because of money. money, money. that is what is so upsetting to me. guest: there is absolutely no question there is a growing gap between the haves and have-nots in the world and the u.s. as well. it is not just an issue of wealth. it is also an issue of education. important, the comprehensive tax reform that is outlined in the comeback america restoring fiscal sanity report under both from march would end up resulting with everybody and that making more than a stated percentage will pay something. those who end up having more and make more will pay more. we will have an even more progressive tax system. but the way we do it is through comprehe
i am paying taxes big time on my life. the thing is, i am so upset with the ignorance, with the calls that come in. it is devastating to say the rich are helping the poor to get jobs is absolutely ludicrous. i am so upset because there is a goal to tear down the little guy. of course the goal is to destroy obama, which is unspeakable. the middle class and the poor are suffering. all because of money. money, money. that is what is so upsetting to me. guest: there is absolutely no question there...